OptionRally is a relatively newer broker in the binary options market. A binary options broker has got immense amount of responsibilities that require fulfilling customer’s demand and satisfaction. Most of the binary options brokers in the market have proved to be weak and unorganized but this is where OptionRally stands strong and efficient. Even though it is new in the market it has created quite a buzz and has many patrons to its name. OptionRally’s name has been associated to the best in the business of binary options broking.
The trade line of OptionRally says, “trading on the fast track” and this definitely holds true as OptionRally’s trading platform completes complex trades in just a few steps. OptionRally was established in the year 2011 and is being headquartered from Cyprus since then. Cyprus is known to be the prime hub for binary options brokers. It is regulated under the Cyprus Securities and Exchange Commission (CySEC). The prime office is situated at Lordos Central Court 1, Limassol 3105 Cyprus.
While most of the binary options brokers limit themselves to being only web based brokers, OptionRally has taken a step forward and come up with some modern trading apps for iPhone and Android users. These apps have made it easy for traders to continue with their work on the go. OptionRally is also a broker which has more than 3 trading platforms for all types of clients.
In this review we will take you through all the trading platforms which OptionRally offers, we will let you know about their account types and we will also talk about various facets of OptionRally.
Trading Platforms at OptionRally
On a whole, OptionRally’s platforms are web-based and are powered by SpotOption. SpotOption is a legend when it comes to binary options’ trading platforms. It is simple, well designed and highly unique. The trading platforms at OptionRally are protected by COMODO systems. One can execute a trade by following three easy steps which include:
- Selecting the asset to trade.
- Determining the price direction at the end of the time period
- Deciding the amount to invest and then clicking “PUT” or “CALL”
With these three easy steps one can complete a trade quickly and get the best possible results. The various types of trading platforms which can be used are:
- Binary Options Pro: This is the first type of platform which one can opt for. Here the risk is minimal and this platform is also called fixed return options (FROs) platform.
- Option Builder: This is the second type of trading platform on offer, here the trader can build options and customize trade as per himself. This platform is meant for people with advanced levels of knowledge.
- One touch trading Platform: This is also known as range trading platform. It is meant for experienced people in the field of trading. Here there are great opportunities to earn big because of the risk factor. One can earn as much as 500% as returns.
- Binary META: The last type of trading platform is known as Binary META. This is an in-house developed trading platform especially meant for experts. It is highly unique with its solid list of tools and features.
With so many types of account trading becomes very easy and flexible. One can understand his/her capacity and invest money well.
The next big thing which we are going to look at is the trading account variety which is offered by Option Rally. Generally, most of the binary options brokers come up with a single type of trading account called Standard trading account, but Option Rally has around 4 types of trading accounts on offer. These trading accounts give each and every type of trader to understand his capacities and work. Here are the trading accounts:
- Mini Trading Account: The first type of trading account is Mini Trading Account; this trading account can be compared with the standard trading account of other traders. It requires a minimum deposit of $200 and there is a bonus of 15% on the first time deposit amount. The next deposits will come with a bonus of 10%. Traders who choose this account are entitled to receive a daily and weekly review of the market.
- Standard Trading Account: Next up is the standard trading account. This is more of a premium account even though it has been named as Standard trading account. This account is well suited for beginners and people who want to professionally work in the finance line. A minimum deposit of $1000 is required and a 20% bonus is entitled for the first time deposit amount. After that one gets a bonus of 10% on every deposit. People who have applied for this account get a one-time interaction with OptionRally’s financial experts and OptionRally eBook as well.
- Executive Trading Account: Along with all the benefits of the standard trading account one gets to have a 25% welcome bonus, gets to interact twice a month with OptionRally’s financial experts and three daily trading tips from such experts. There is a minimum deposit requirement of $5000.
- VIP Club Account: This is the fourth and last type of trading account. The VIP club account gives all the features and benefits of Executive trading account as well as some other great features like personal Trading Concierge as well as enjoying, access to exclusive information, ideas, trading tools and international clubs, welcome bonus of 30% of the initial amount deposited, 15% bonus on redeposit, 5 day trading tips, personalized consultations, free mobile or tab after a trading of $15 grand. The minimum amount of deposit required here is $10000.
- Islamic Trading Account: This broker also provides an Islamic trading account which follows the Shariah Law and is specially meant for Muslim people who have the talent in trading.
These are the five major accounts in which one can choose to deal. These accounts give greater amount of trading flexibility as compared to other brokers in the market.
Payout Ratio and Banking Options
Whenever someone chooses to deal with a binary options broker, payout ratio or return on investment becomes the biggest decisive factor. There are brokers who provide a good amount of return on investment but then these brokers have too many terms and conditions which must be followed by the trader. At, OptionRally one does not have to get into too much of fuss as the payout ratio is quite simple and straight. On successful trades one is eligible for a payout ratio of nearly 78%. In case of one touch options, a person can earn as much as 500% as returns. There is an additional rebate of 10% in case of unsuccessful trades.
A trader can deposit or withdraw money in multiple ways like using:
- Bank Wire Transfer
- Credit card
- Western Union
With these many deposits and withdrawals options managing funds is not a difficult job.
There are many brokers who offer around 50-60 underlying assets to deal in, but OptionRally comes up with around 100 underlying assets to trade in. One can also speculate on two stocks simultaneously, for example: TelAviv vs. FTSE. There are major heads of assets like commodities, currencies, stocks, indices etc to deal in.
This is the most talked about department as customer support is where most of the brokers fail. In case of Option Rally the customer support is quite generous and is multilingual based. People from all parts of the world never have a problem when it comes to reaching the customer care executives. To reach Option Rally’s customer care team one can contact them via phone calls, emails, fax and live chat as well.
Their email address is firstname.lastname@example.org and the main contact number is +357-22-030117.
Here is a summary of the main advantages of working with Option Rally:
- Established and regulated broker under the CySEC authorities.
- Has a diverse range of trading platforms from option builder to Meta
- There are more than 4 types of trading accounts to choose from
- There is an Islamic account as well which follows the rules of Islam sentiments
- One has more than 100 underlying assets to deal in.
- There is a multilingual customer support department for all the traders
- Free of cost education on binary options trading
These many advantages make it easy for people to work with OptionRally.
Here are a few of the cons which are present in OptionRally’s workings:
- Average refund for out-of-the-money trades (10%)
- Customer service departments’ speed can be improved
To conclude, we must say that OptionRally has got too many assets when it comes to trading; they have a well designed customer support system and are a high regulated broker. They have established a good name for themselves in this competitive world of binary options broking mainly because of their simple and transparent working. They also provide trading facilities on mobile phones via their well made apps.